Thinking about Leasing a vehicle

[daturbosix]

i forgot about that. if you can lease something and write if off against a your personal business or job, thats the only way id consider it. its like a free car at that point

 

[RICH17]

Thats how my Uncle does with his new Lincoln Suv thing and my aunts XK convertible

 

[daturbosix]

my neighbor also does that. but its a "company vehicle"... claims its all a write off for her financial planning/tax business

 

[Bru]

Like mentioned, leasing is fine if you plan to go through cars every 3 years and want the newest car possible. You’d lose a lot of money if you did that through purchasing. Be smart with the deal, look for small deposits and lease specials. Cars with higher residual values make for better lease rates too because the difference in value between start and end of the lease is smaller, and that’s what you’re paying for in a lease. That’s unless an automaker is just trying to get a car in peoples’ hands inexpensively for awareness like Alfa is doing now. Cars with a lower residual value at the end of the lease may still be a good bet if you plan to purchase at the end of the lease when it will be worth less money than a similar car with higher residual value.

 

[Bob Kazamakis]

i forgot about that. if you can lease something and write if off against a your personal business or job, thats the only way id consider it. its like a free car at that point

I’m not sure you know how tax write offs work.

 

[pbdevastator]

Also if car is worth more than the residual value, you get equity or credit towards another. So keep it clean, no accidents, under mileage.

 

[b00sted]

I’m not sure you know how tax write offs work.

It definitely doesn't make the car free...But it's the equivalent of getting a sizeable discount on the monthly lease rate.

 

[Fish]

I would always sell a car to someone vs trading in. My 03 accord they offered 2k, then upped to 2500, ended up selling it for 5k. Dealer is in business to make money, so you will never win with them.

If you always like change or get bored with same car, leasing is the way to go if you have the income for payments. Its not for everyone.

Yes you get less money on the trade in, however, your trade in value is also tax free. IE, if they give you 2500 for the trade in, you do not pay tax on 2500 of the car you are purchasing. In the end, you could make out more that way since you might make that money back at the end of the loan.

Plus thats less creeps you have to talk to from Craigslist.

If I ever decide to sell my 03 Cobra, I would definitely sell it myself.

An 03 Cobra vs an 03 Accord are two different situations. Of course you would sell an 03 Cobra yourself. You most likely modded it and its a specialty car. A dealer will see a 14 year old Mustang.

I love having new cars with no problems and latest technology. Leasing works great for me since I do under 10k miles a year. Plus you can afford a much nicer car than if you were to buy it new

This is true.

depends how much you drive. My wife stays home with kids. we are on our 2nd lease. this will be our last. we were able to get to brand new $45000 cars for $2000 and couple hundred a month... got us a new reliable, maintenance free car. at the end, yes, we didnt end up with a trade in, but if you lease again it doesnt matter.

only issue is miles in my opinion. one long trip fucks you over. that's why we will stop and buy the next.

This is also true. We bought our latest car vs leasing because we were going on a trip, and my drive to work is 23 miles one way. Those miles add up and I dont even think a 15K mile lease would save me.

This.


Other than that its a waste IMO. A 2-3 year old car will have already lost its massive depreciation that a lot of new cars seem to have. Get it with an extended warranty and be good to go for many years. Then you own it in the long run.

Purchasing a 2-3 year old car will be the same as leasing a brand new car. Plus you dont have to worry about a lot of the maintenance for that 2-3 year old car, and shit you dont even have to for the new one.

My wife and I lease our 15 Sonata that is due in July. We change the oil and add gas. Thats it. No brakes, no tires, no anything. We put down 1000 and pay $208 a month. We will probably try the Tuscon or the Santa Fe next and most likely lease that as well since her commute is 8 miles one way.